Enerflex (NYSE:EFXT) Shares Gap Down to $6.11

Enerflex Ltd. (NYSE:EFXT - Get Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at $6.11, but opened at $5.55. Enerflex shares last traded at $5.05, with a volume of 183,007 shares trading hands.

Analyst Ratings Changes

Separately, BMO Capital Markets raised Enerflex from a "market perform" rating to an "outperform" rating in a research note on Thursday, February 29th.

Enerflex Stock Down 21.8 %

The firm has a market cap of $592.67 million, a price-to-earnings ratio of -7.24 and a beta of 2.20. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.91 and a current ratio of 1.25. The firm has a fifty day simple moving average of $5.96 and a 200-day simple moving average of $5.10.

Enerflex (NYSE:EFXT - Get Free Report) last issued its earnings results on Wednesday, February 28th. The company reported ($0.09) earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.16). The business had revenue of $574.61 million during the quarter, compared to analyst estimates of $583.70 million. Enerflex had a negative net margin of 3.47% and a positive return on equity of 0.11%. As a group, sell-side analysts expect that Enerflex Ltd. will post 0.47 EPS for the current year.

Enerflex Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, March 13th were paid a $0.0184 dividend. This represents a $0.07 dividend on an annualized basis and a dividend yield of 1.54%. This is an increase from Enerflex's previous quarterly dividend of $0.02. The ex-dividend date of this dividend was Tuesday, March 12th. Enerflex's payout ratio is currently -10.61%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. NewGen Asset Management Ltd boosted its holdings in Enerflex by 19.1% during the 4th quarter. NewGen Asset Management Ltd now owns 2,186,200 shares of the company's stock worth $10,210,000 after acquiring an additional 350,000 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Enerflex by 25.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,063,900 shares of the company's stock worth $6,109,000 after purchasing an additional 213,300 shares during the last quarter. Intact Investment Management Inc. purchased a new position in Enerflex in the third quarter worth $1,124,000. Quadrature Capital Ltd increased its position in shares of Enerflex by 136.2% during the 3rd quarter. Quadrature Capital Ltd now owns 308,500 shares of the company's stock valued at $1,779,000 after purchasing an additional 177,900 shares during the last quarter. Finally, K.J. Harrison & Partners Inc raised its stake in shares of Enerflex by 67.5% during the fourth quarter. K.J. Harrison & Partners Inc now owns 207,700 shares of the company's stock worth $963,000 after acquiring an additional 83,700 shares in the last quarter. Institutional investors own 46.47% of the company's stock.

Enerflex Company Profile

Enerflex Ltd. offers energy infrastructure and energy transition solutions to natural gas markets in North America, Latin America, and the Eastern Hemisphere. The company provides natural gas compression infrastructure, processing, and treated water infrastructure under contract to oil and natural gas customers; power generation rental solutions; custom and standard compression packages for reciprocating and screw compressor applications; re-engineering, re-configuration, and re-packaging of compressors for various field applications; integrated turnkey power generation, gas compression, processing facilities, natural gas compression, processing, and electric power solutions; after-market mechanical services and parts distribution, as well as maintenance solutions to the oil and natural gas industry, operations, and overhaul services; and equipment supply, parts supply, and general asset management.